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Additional Cuts at Morgan Stanley

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Sep 10, 2005 4:27 am

[quote=frumhere]

grow=recruit

similar=more cuts, but different then last time.

[/quote]

Yeah, they'll be different than last time.... they'll fire them on a Friday instead of a Thursday.   And the limits will be higher.

They won't have cuts THIS year.... They'll wait til Gorman shows up in 2006. 

Sep 11, 2005 2:56 pm

We have recieved a wire stating that there will not be another round of
cuts, and that the firm wants to increase broker ranks. Speculation
about another round of cuts was hurting focus. I think that MS brokers
have gotten the message that this will be a firm where production
counts. Come to work to produce and be successful. Find another firm if
you if you arn’t serious about being a top professional. I spent 9
years at AGE (good firm) where you could do $250k gross and never
worry, but we always knew deep down that the real pros were the MLs of
the world. I think the changes are good, and that first tier firms
should be places where brokers come to do business, and be serious
about it. We work in an industry that is bussiness in its purest form,
and I don’t understand brokers expecting a welfare mind set and
lamenting the demise of the free ride for slackers. Excuses for poor
performance are nothing more than denial on the part of thoes who
can’t, or won’t do the work that must be done.

Sep 12, 2005 1:49 pm

[quote=Elvis]

People, please use your heads. I dont know how many of you guys are rookies are in managment but our National Director just sent an email that there will be no more cuts. Why? Because rookies who have 2 year salary contracts will leave. We are not hiring anymore trainees (cut from 2400 to 1000) and there will be a fall out. 5 trainees just left my office this week alone. Many are sitting on a fence and already interviewing out of this business. We are losing brokers in droves. Not just Rookies but Club members.

[/quote]

Why would salaried rookies leave? Who cares if rookies not making it leave? Of your five rookies that left, were any doing any business? I doubt it. You keep waiting for that "Fall cut", if I were you, I'd be doing some gross so that I didn't have to worry about it.